PM Mudra Yojana: The Central Government brings schemes keeping in mind the needs of people coming from different sections of the country. In the year 2015, the government started the Pradhan Mantri Mudra Yojana. So that small businesses can be promoted. People who want to start their own business or want to expand their existing business. The government gives them loans under this scheme at very low interest rates.

Till now lakhs of people have taken advantage of this scheme and started their business. The government has set some important conditions for getting a loan. The application is accepted only after completing them. Up to what amount of loan can be availed under this scheme and which people are not able to avail its benefit? Let us tell you the complete information.

Government gives loan up to so many lakhs

Under Mudra Yojana, the government gives three types of loans. In which children, teenagers and young people. Under Shishu Yojana, a maximum loan of up to Rs 50 thousand is given. Loan can be availed from Rs 50 thousand to Rs 5 lakh in Kishore Yojana and up to Rs 10 lakh in Tarun Yojana. So now loan up to Rs 20 lakh is available in Tarun Plus category. But this is what they get. Those who have taken Tarun Loan and repaid it on time.

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All these loans are given through banks, micro finance institutions or non-banking finance companies. The interest rates on these loans are very low. So that small traders, shopkeepers or startups can easily pay it. The special thing is that no guarantee is required for this. Due to which new entrepreneurs get relief in the beginning.

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These people do not get the benefit of loan

Not everyone can take loan under this scheme. People who have been declared defaulters by the banks. He is not eligible for this scheme. Similarly, people who live in India but are not Indian citizens. They are also not given loans. Applicants below 18 years of age are also excluded from the scheme. Apart from this, those who do not have a solid project report related to their business or who are not able to provide necessary documents like Aadhaar, PAN or bank statement can also not apply.

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The loan has become a means to meet many needs of people’s lives in today’s era. Whether it is to start business or to do some other work. People resort to loan. But it is not easy to take a big loan because it has to fulfill guarantee, paper and many conditions. For this reason, the government brings different schemes from time to time.

So that youth and small businessmen can get help. Recently one such scheme is discussed in which a loan of up to 20 lakh rupees can be found. However, for this, some necessary conditions will have to be fulfilled first. Only then you will be able to take advantage of it. Let us tell you complete information about the scheme.

A loan of 20 lakhs is available under PM Mudra Yojana

Under the PM Mudra Yojana, small businessmen and youth are given the facility to take loans. Three categories have been made in this scheme. The first is the Shishu Yojana, in which a loan of up to 50 thousand rupees is available. The second is Kishore Yojana under which a loan of 50 thousand to 5 lakh rupees is given. The third is Tarun in which a loan ranging from 5 lakh to 10 lakh rupees is available.

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Recently, Tarun Pulse category has been made in this scheme. In which the limit has been increased to Rs 20 lakh. However, let us tell you that for a loan of 20 lakh rupees of this scheme, you have to fulfill a condition. Only then you will be able to get a loan of up to 20 lakh rupees.

This condition has to be fulfilled

A special condition has been laid to get a loan of up to Rs 20 lakh under the Pradhan Mantri Mudra Yojana. This facility is provided only in Tarun Plus category. For this, it is necessary that you have earlier repaid the loan of Rs 10 lakh taken under the Tarun category on time. That is, if you have cleared the old loan without any default or delay.

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Only then you will be eligible to get a loan of up to 20 lakh rupees. The purpose of this condition is to ensure that the person taking the loan pays responsibly and his credit record is correct. With this, both the government and the bank are confident that the new loan will also be repaid on time.

How to apply for the scheme?

To apply under the Pradhan Mantri Mudra Yojana, first you have to contact your nearest bank, government bank or recognized Finance Institute. Here you have to fill the plan form and give basic information related to your identity, address and business. If you are starting a new business, then a small project report may also have to be installed. The bank approves the loan after checking your documents and applications. The entire process can be completed both offline and online.

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